“In 2024, we announced that the opening of this subsidiary will be our next strategic step, and now we are glad to turn this objective into a concrete achievement,” stated Ana Nedea, strategy and business development director al Simtel Team.
In its initial phase, the German subsidiary will offer preventive and corrective maintenance services for photovoltaic and energy storage systems.
In the medium term, the Company plans to expand the subsidiary’s activity by introducing other business lines from its portfolio, including EPC (Engineering, Procurement, Construction) projects for photovoltaic systems and energy storage solutions, as well as the commercialization of autonomous robots produced by Agora Robotics, a Group company dedicated to this activity.
In Germany, the company will have an operational team comprising technical personnel and business development specialists whose primary responsibility will be identifying opportunities to scale the Group’s business lines in Germany and neighboring countries.
The Group’s expansion plans also target other European markets, with the management actively exploring opportunities to open another subsidiary later this year.
The group reported consolidated operating revenues of RON172.3 million in the first nine months of 2024, down 19% from the year-earlier period, and RON6.6 million profit, 60% lower.
(English version by Catalina Apostoiu)